Short USD around 110.65 towards 109.25 | 14 June 2017

14 June 2017, USD/JPY

Technical Observation

Recently, USD has been trading on a steep upward trend line constantly forming higher lows. Unless this trend line is broken to the lower side, I expect a rise towards the resistance line 110.65. Only a clear breakout above this resistance line will convince me to buy USD towards 111.99. However, as it is, I expect a rejection from 110.65 to short USD towards 109.25. On the 4 Hour chart above, short positions seems more ideal around 110.65.

Technical levels:

Resistance levels

R1: 110.26

R2: 110.44

R3: 110.8

Pivot Point

110.09

Support Levels

S1: 109.37

S2: 109.73

S3: 109.9

Trade Signal

Wait and short USD around 110.65 towards 109.25

The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.

Anjara

Facebook

Twitter

Imelda Maseno

Analyst of «FreshForex» company

FreshForex is a brand with a 20-year history, providing access to online trading for clients from 158 countries worldwide.
The company’s services are intended for adult users. If the use of these services violates local laws, you must immediately leave the website. The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage involves significant risks and may result in both profits and losses. Potential losses are limited to the amount of funds deposited. Before deciding to trade, clients should assess their risk tolerance, experience level, and knowledge.
We use cookies to improve your experience on our website.